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Go Back   Armchair General and HistoryNet >> The Best Forums in History > Historical Events & Eras > World War II

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World War II Discuss WW2. .

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  #256  
Old 08 May 14, 12:04
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Originally Posted by broderickwells View Post
And you've just touched the nub of the problem of LoN sanctions: the US wasn't part of the LoN.
Yup, thats true. OTOH if the LoN had led the way on sanctions there's a possibility the US may have followed suit. Certainly it was less likely that the US would have unanimously imposed sanctions whilst the LoN did nothing, IMO.

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I'm of the reverse opinion. Nominal rates are great for politicians to produce puff pieces showing how great they are, but if nominal GDP grows at 5% p.a. and inflation is at 4.5% p.a., then a real GDP growth of 0.5% is nothing to crow about, especially if one's competitors are showing real GDP growth of better than 0.5%
Well OT and I see your POV just to me actual GDP can be measured pretty precisely whilst there is a lot of guess work with inflation.
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  #257  
Old 09 May 14, 06:39
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Originally Posted by Gooner View Post
Yup, thats true. OTOH if the LoN had led the way on sanctions there's a possibility the US may have followed suit. Certainly it was less likely that the US would have unanimously imposed sanctions whilst the LoN did nothing, IMO.
A case of yes and no. The US imposed sanctions on Japan, although I have no idea how much trade the US had with Japan pre and post sanctions, nor how binding these sanctions were on US companies nor how well enforced.

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Well OT and I see your POV just to me actual GDP can be measured pretty precisely whilst there is a lot of guess work with inflation.
Actually, the measurement of inflation is fairly easy, in crude terms - take snapshot of prices at time A, repeat at time B, difference is inflation/deflation. Then comes the number crunching to arrive at the weighted average change, with weightings derived directly from the proportional contributions to nominal GDP.

The tricky one is the Consumer Price Index, which is the theoretical basket of goods and services the average consumer buys. The problem is the basket slowly changes with technological advancement and market change.
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  #258  
Old 09 May 14, 13:15
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US exports in 1938:3.064 billion $; to Japan :239 million,to China a peanuts of 51 million and to Britain:810 million .
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